NFT
Analysis of Dogwifhat Futures Trading Activity
Thursday. September 5 at 8:00 PM
1 min. readFutures traders are increasing their positions in the Solana-based memecoin Dogwifhat, with a potential reversal pattern identified as it trades significantly below its March peak. Dogwifhat open interest has risen by 16% to $231.48 million since Aug. 31, while the price has dropped by 17% to $1.57. Some traders anticipate a rebound to $2.40, a level not seen since July 30. Analysts suggest a 52.80% spike from the current price. Trading volume for WIF has doubled that of Shiba Inu since Sept. 4. Despite being down 66% from its all-time high, there is optimism for a price increase. However, the altcoin season has not met expectations, with new traders rushing into speculative assets prematurely. The article does not provide investment advice, emphasizing the importance of conducting personal research before making financial decisions.